News

11 Queens Gardens, Aberdeen

11 Queens Gardens, Aberdeen

A rarely available prime West End office investment let to Dundas Wilson/CMS Cameron McKenna LLP with an unexpired term of 8.25 years, has been sold by Graham & Sibbald for £1.9m to a local Oil & Gas company. The sale was completed swiftly via the collaborative efforts of the Aberdeen Agency Team (comprising Simpson Buglass & Mark Gillies) working alongside the National Investment Team (comprising Sandy Gilmour & Graeme Millar).

G&S tendered to sell the investment in October and were retained to act on behalf of JPR Group a local Aberdeen property investment and development company with significant property assets within Aberdeen. Further information on JPR Group is available on their website www.jpr-group.co.uk

Simpson Buglass commented:

The sale price exceeded the asking price of £1.8m by 5.5% and represented a capital rate of £478 per sqft.

Sandy Gilmour – Head of Investment added:

“We are delighted to have secured the sale of this high quality townhouse investment, the price of £1.9m reflects a net initial yield of 5.97%. The team transacted over £40m worth of stock during 2014, equating to an increase of 43% year on year and smashing the previous record of £28m from 2013. We look forward to challenging ourselves and building upon this success during 2015.”